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Bitcoin is approaching a new peak, enhanced by renewed enthusiasm that the United States and China have finalized their long-anticipated trade accord.
The globe’s largest trading nations have nearly finished their trade pact, as noted in a Wednesday post on Truth Social by US President Donald Trump.
“Our arrangement with China is settled, pending final endorsement from President Xi and myself,” Trump mentioned. “We are securing a total of 55% tariffs, while China is agreeing to 10%. The relationship is outstanding.”
Although the US-China agreement “seems to ease some friction over rare earth exports, tangible policy alterations remain uncertain,” stated Nexo dispatch analyst Iliya Kalchev, who informed Cointelegraph that Wall Street futures experienced a slight drop following the announcement.
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Bitcoin (BTC) price surged to a 24-hour high just below $110,300, before adjusting to $109,560 as of 1:04 pm UTC on Wednesday, according to TradingView data.
“Nearly all the other tariff discussions and commentary are primarily focused on persuading China to consent to an agreement,” noted Global Macro Investor founder and CEO Raoul Pal.
The remainder of the negotiations might solely be “theatrical” for a trade accord with mainland China, he mentioned in an April 8 X post.
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US-China agree to trade framework: Chinese minister
On Tuesday, China’s Vice Commerce Minister, Li Chenggang, announced that both parties have reached an in-principle understanding to settle trade disagreements through mutually advantageous collaboration.
Both parties engaged in “open and comprehensive discussions” during the London talks, Chenggang informed Chinese news platform Chinadaily.
This progress may alleviate concerns for crypto investors since Trump’s reciprocal trade tariffs were perceived as the greatest macroeconomic danger to conventional equities and cryptocurrency markets in 2025.
Bitcoin momentarily dropped to a year-to-date low of $74,434 on April 7, five days after Trump declared his reciprocal import tariffs on April 2, which caused the S&P 500 to lose over $5 trillion in value, its most significant fall to date.
Tariff-related uncertainty also impacted venture capitalist (VC) enthusiasm, with crypto VC transactions declining to 62 funding rounds in May, marking a monthly low for 2025, according to Cointelegraph.
This downturn was mainly ascribed to a “mix of market valuations and sentiment,” as both suffered due to the “worsening of tariff discourse,” mentioned Aurelie Barthere, principal research analyst at the crypto intelligence platform Nansen.
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